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Fifth Third Bancorp to redeem $10M of trust preferred securities

Fifth Third Bancorp intends to redeem on Sept. 23 all the outstanding trust preferred securities issued by MB Financial Capital Trust III. The outstanding principal balance is $10 million.

The redemption price will be $1,000 per security, which reflects 100% of the liquidation amount, plus accrued and unpaid distributions to the actual redemption date of $9.71 per security. The redemptions will be funded with available cash.

Wilmington Trust is the redemption or paying agent for the securities.